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Pension Wise FAQs

Q. What is Pension Wise?

A. How people access their pensions is changing in April 2015. If you’re 50 or over and have a defined contribution pension (a pension based on how much has been paid into your pot), it’s your decision how you take the money. Pension Wise has been set up by the UK Government as a free and impartial service to help you understand what your choices are and how they work. You will be able to get guidance on what you can do with your pension pot; different pension types and how they work; what’s tax-free and what’s not. It is an impartial service so you won’t be given advice or recommendations for specific products or providers.

You can access guidance:

Face to face – through your local CAB 

Phone – through The Pensions Advisory Service 0300 330 1001

Online - through the Pension Wise website

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Q. What sort of information will this service provide?

A. Pension Wise is a brand new service to help people who have access to the new pensions flexibilities to decide what to do with their pension savings. The guidance provided will enable people to better understand their options and ensure they know what questions to ask before they commit to decisions about their pension. It will also signpost them to any next steps they might want to take before making any choices. It is a free and impartial service and therefore will not recommend specific products or providers.

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Q. Who can access the service?

A.You can access the service in three ways:

Face to face – through your local CAB

Phone – through The Pensions Advisory Service 0300 330 1001

Online - through the Pension Wise website

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Q. When can I access the service?

A. The Pension Wise service is being delivered across Scotland by our network of CAB members operating in 90 CAB offices and over 200 service points. Local arrangements will also be made for people in remote locations, including home visits.  To make an appointment, please contact your local CAB (you can find your local bureau by clicking on “find your local bureau at the top or bottom of this page) or call Citizens Advice Direct on 0808 800 9060.

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Q. Where can I access face-to-face guidance?

A. The Pension Wise service will be delivered across Scotland by our network of CAB members operating in 90 CAB offices and over 200 service points. Local arrangements will also be made for people in remote locations, including home visits. Later in March we will be letting you know how to make an appointment. Appointments will be available in April when the service goes live. The guidance will also be available online through the Pension Wise website and on the telephone through The Pensions Advisory Service.

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Q. Does it matter if I access the guidance online, on the phone, or face to face?

A. No. The guidance offered will be the same whether people go to their local CAB for face to face guidance, The Pensions Advisory Service for phone guidance, or want to go online through the Pension Wise website.

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